DUKE FRASCO (CDN FILE )
THE entry of several income-generating establishments in Liloan town, northern Cebu has made Mayor Duke Frasco optimistic that the town will qualify for cityhood in the next three years.
Frasco said two universal banks will open branches in the first-income class town within this year, bringing the town’s income up.
“Our expectation is that within the next three years, we will qualify to become a city,” he said during a candidates’ forum at the Ramon Aboitiz Foundation Inc.-Eduardo Aboitiz Development Studies Center (RAFI-EADSC) yesterday.
Under Republic Act No. 9009, the requirements for towns to qualify for cityhood include locally generated income of at least P100 million for the last two consecutive years as certified by the Department of Finance.
Aside from this, a population of 150,000 or more as certified by the National Statistics Office or a contiguous territory of 100 square kilometers as certified by the Land Management Bureau is also required.
At present, Frasco said the town’s annual income excluding the Internal Revenue Allotment is P95 million, which is P15 million short of the requirement.
Furthermore, he said that their population is now at 130,000.
At five percent annually, Liloan is considered to have the highest population growth rate in Cebu.
The town is best known for its historic lighthouse located at Bagacay Point, originally built by the Spaniards in 1857, as well as the San Fernando Rey Parish and Titay’s Rosquillos and Delicacies store along the highway.
Apart from the two universal banks opening branches in the town, Frasco said there are also fastfood retailers establishing stores in Liloan.